Conagra Brands, Inc. (NYSE:CAG) Shares Acquired by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. increased its holdings in Conagra Brands, Inc. (NYSE:CAG) by 2.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 173,778 shares of the company’s stock after acquiring an additional 3,537 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Conagra Brands were worth $5,651,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CAG. Innealta Capital LLC purchased a new stake in shares of Conagra Brands in the second quarter valued at about $25,000. Chilton Capital Management LLC purchased a new stake in Conagra Brands during the 2nd quarter valued at approximately $25,000. Hexagon Capital Partners LLC lifted its position in Conagra Brands by 82.8% during the 3rd quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock worth $30,000 after acquiring an additional 420 shares during the period. LRI Investments LLC purchased a new position in shares of Conagra Brands in the 1st quarter valued at approximately $42,000. Finally, Abich Financial Wealth Management LLC acquired a new position in shares of Conagra Brands in the third quarter valued at approximately $47,000. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Conagra Brands Trading Down 0.7 %

Shares of CAG stock opened at $27.46 on Friday. Conagra Brands, Inc. has a fifty-two week low of $26.62 and a fifty-two week high of $33.24. The company has a quick ratio of 0.33, a current ratio of 0.94 and a debt-to-equity ratio of 0.86. The business has a fifty day simple moving average of $30.32 and a 200-day simple moving average of $30.07. The stock has a market cap of $13.10 billion, a P/E ratio of 26.66, a P/E/G ratio of 2.85 and a beta of 0.34.

Conagra Brands (NYSE:CAG) last announced its earnings results on Wednesday, October 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.07). The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.84 billion. Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The business’s revenue was down 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.66 EPS. On average, analysts forecast that Conagra Brands, Inc. will post 2.59 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, October 31st will be paid a dividend of $0.35 per share. The ex-dividend date is Thursday, October 31st. This represents a $1.40 annualized dividend and a dividend yield of 5.10%. Conagra Brands’s dividend payout ratio is currently 135.92%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CAG shares. Bank of America decreased their price target on Conagra Brands from $34.00 to $33.00 and set a “neutral” rating for the company in a report on Thursday, October 3rd. Royal Bank of Canada reissued a “sector perform” rating and set a $29.00 price target on shares of Conagra Brands in a report on Thursday, October 3rd. Wells Fargo & Company lifted their price objective on Conagra Brands from $30.00 to $31.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. BNP Paribas upgraded Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd. Finally, The Goldman Sachs Group began coverage on Conagra Brands in a report on Monday, August 12th. They issued a “buy” rating and a $36.00 price target for the company. Six analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Conagra Brands has a consensus rating of “Hold” and an average price target of $31.63.

Conagra Brands Company Profile

Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods food company primarily in the United States. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products through various retail channels.